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Updated: FoodPanda Raises Over $20M From AB Kinnevik & Phenomen Ventures

foodpanda

Update: FoodPanda has appointed FoodPanda India Co-Founder and Managing Director, Rohit Chadda as its product head for the Asia Region. The company also noted that Chadda will continue in his role as the co-founder and managing director of FoodPanda India.

Rocket Internet-backed online food ordering service FoodPanda has raised (pdf) more than $20 million investment from a group of investors which include Investment AB Kinnevik and Phenomen Ventures. The company plans to use this investment to expand to other countries and optimize its customer service. Its worth noting that AB Kinnevik owns 24.2% stake in the parent company Rocket Internet. Update: FoodPanda has informed Medianama that it also plans to use the investment to expand to other Indian cities.

Launched in April 2012, FoodPanda primarily focuses on emerging markets and is currently operational in 27 countries across four continents. This includes IndiaIndonesiaMalaysiaPakistanSingapore, and Poland among others. It also includes FoodPanda’s affiliated brands like HelloFood and HungryPanda through which it is operational in countries like Brazil, Mexico, Vietnam and Saudi Arabia among others. The company claims to have three billion visitors worldwide.

The company had launched its Indian operations in June 2012, after being in stealth mode for a few months. At launch, FoodPanda was limited to Delhi and listed 232 restaurants in the city. However, in the following months, the company seems to have expanded significantly in the country and claims to offer online food ordering service for around 1,800 restaurants across 10 cities in India including Bangalore, Delhi, Noida, Hyderabad, Mumbai, and Pune among others. These include restaurant chains like Pizza Hut, Pizza Corner, Ammi’s Biryani, Zaffran, and Mast Kalandar among others. This growth is however not unexpected since Rocket Internet tends to launch and expand its businesses very aggressively.

In March 2013, FoodPanda had launched its mobile apps on Android and iOS platform, allowing users to browse through menu and order food from more than 1,300 restaurants in India.

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Competition

In India, FoodPanda competes with JustEat, which launched its services in the country by acquiring HungryZone and claims to have 2,500 restaurant partners in India, BigBite.in which had claimed to have tied up with about 600 restaurants in Delhi-NCR as of September 2012, Mumbai based Deliverychef.in which offers online food ordering service in Bangalore, Mumbai, Navi Mumbai, Thane and Pune among others and Pune-based TastyKhana.in which offers online food ordering service in Pune, Mumbai, Bangalore and Delhi-NCR among others and claims to have served more than 100,000 customers in these regions.

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